Xinhua
23 Nov 2022, 08:25 GMT+10
SEOUL, Nov. 23 (Xinhua) -- Sentiment among South Korean businesses over the economic situation kept falling for the third consecutive month due to lingering worry about inflation and economic downturn, central bank data showed Wednesday.
The business survey index (BSI) in all industries slipped 1 point from a month earlier to 75 in November, according to the Bank of Korea (BOK).
It continued to slide since September as concerns mounted over economic slump amid rapid interest rate hikes to counter runaway inflation.
The BOK began to tighten its monetary policy stance August last year, raising its policy rate in eight steps from a record low of 0.5 percent to 3.0 percent.
The BSI among manufacturers increased 2 points from a month earlier to 74 in November, but the index for non-manufacturers declined 3 points to 76.
Manufacturers picked economic uncertainties, higher commodity prices and weak domestic demand as key barriers to their business, while non-manufacturers selected economic uncertainties and higher costs for personnel and raw materials.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 91.4 in November, down 4.1 points from the previous month.
The index below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,628 manufacturers and 1,154 non-manufacturers conducted between Nov. 8 and 15.
Get a daily dose of North Korea Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to North Korea Times.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...